Law Practice
Jun. 18, 2014
Heller ruling aids partner mobility
A California court recently ruled that a dissolved law firm is not entitled to a share of the profits realized by a successor firm on "unfinished business." By Gary M. Kaplan
A novel decision from the U.S. District Court for the Northern District of California, rejecting the claims of the trustee in the Heller Ehrman bankruptcy case to recover profits from client matters that ex-partners took with them to their new law firms, should have a dramatic impact on the hiring of lateral partners from distressed law firms, as well as on a previously lucrative source of funds for a defunct firms' creditors.
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